Five years after the Sarbanes-Oxley Act took effect, about one-fourth of internal audit managers surveyed by Protiviti Inc. say they have comfortably moved SOX concerns to the back burner as they refocus on traditional responsibilities. That's more than double the percentage responding to a similar Protiviti survey in 2005, indicating companies increasingly are satisfied with their compliance operations and ready to return to the basics, explains Bob Hirth, managing director and head of Protiviti's internal audit group.

“This is the fourth year for most accelerated filers, and they are putting SOX into a better perspective,” says Hirth. This should be especially true, he says, in light of the release of Auditing Standard 5 (AS5), which clarifies the rules. The Protiviti survey was conducted before the Public Company Accounting Oversight Board (PCAOB) introduced AS5. “Companies clearly are seeing the long-term benefits of rebalancing, which includes ensuring they do not focus solely on financial reporting at the expense of other critical business operations and functions,” says Hirth.